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EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – November 5th, 2020

EOS

EOS fell by 0.65% on Wednesday. Following on from a 2.7% slide on Tuesday, EOS ended the day at $2.3535.

It was a bearish start to the day. EOS fell from an early morning high $2.3784 to a late morning intraday low $2.2891.

Steering clear of the first major support level at $2.2495, EOS struck a late afternoon intraday high $2.3945.

Falling well short of the first major resistance level at $2.4707, EOS fell back to sub-$2.36 levels and into the red.

At the time of writing, EOS was up by 0.29% to $2.3603. A mixed start to the day saw EOS rise to an early morning high $2.3705 before falling to a low $2.3497.

EOS left the major support and resistance levels untested early on.

EOS/USD 05/11/20 Hourly Chart

For the day ahead

EOS would need to avoid a fall through the $2.3457 pivot level to support a run at the first major resistance level at $2.4023.

Support from the broader market would be needed, however, for EOS to break out from Wednesday’s high $2.3945.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the pivot level at $2.2357 would bring the first major support level at $2.2969 into play.

Barring another extended sell-off, however, EOS should steer of sub-$2.20 levels. The second major support level at $2.2403 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $2.2969

First Major resistance Level: $2.4023

23.6% FIB Retracement Level: $6.52

38% FIB Retracement Level: $9.68

62% FIB Retracement Level: $14.77

Stellar’s Lumen

Stellar’s Lumen fell by 1.13% on Wednesday. Following on from a 0.16% decline on Tuesday, Stellar’s Lumen ended the day at $0.074609.

A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.075744 before hitting reverse.

Falling well short of the first major resistance level at $0.07680, Stellar’s Lumen slid to an early afternoon intraday low $0.072643.

The sell-off saw Stellar’s Lumen fall through the first major support level at $0.07365 before finding support.

Late in the day, Stellar’s Lumen briefly revisited $0.075 levels before falling back to end the day at sub-$0.075 levels.

At the time of writing, Stellar’s Lumen was up by 0.35% to $0.074872. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.074615 before rising to a high $0.075047.

Stellar’s Lumen left the major support and resistance levels untested early on.

XLM/USD 05/11/20 Hourly Chart

For the day ahead

Stellar’s Lumen would need to avoid a fall through the $0.07433 pivot to support a run at the first major resistance level at $0.07602.

Support from the broader market would be needed, however, for Stellar’s Lumen to break back through to $0.076 levels.

Barring another broad-based crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall through the $0.07433 pivot level would bring the first major support level at $0.07292 into play.

Barring an extended crypto sell-off, however, Stellar’s Lumen should steer clear of the second major support level at $0.07123.

Looking at the Technical Indicators

First Major Support Level: $0.07292

First Major Resistance Level: $0.07602

23.6% FIB Retracement Level: $0.09280

38% FIB Retracement Level: $0.1333

62% FIB Retracement Level: $0.1989

Tron’s TRX

Tron’s TRX fell by 0.88% on Wednesday. Following on from a 0.05% decline on Tuesday, Tron’s TRX ended the day at $0.024215.

It was a bearish start to the day. Tron’s TRX fell to a mid-morning intraday low $0.023526 before making a move.

Steering clear of the first major support level at $0.02334, Tron’s TRX struck a late afternoon intraday high $0.024628.

Falling short of the first major resistance level at $0.02508, however, Tron’s TRX fell back to end the day at $0.0242 levels.

At the time of writing, Tron’s TRX was down by 0.24% to $0.024156. A mixed start to the day saw Tron’s TRX rise to an early morning high $0.024458 before falling to a low $0.024063.

Tron’s TRX left the major support and resistance levels untested early on.

TRX/USD 05/11/20 Hourly Chart

For the Day Ahead

Tron’s TRX would need to avoid a fall back through the $0.02412 pivot level to support a run at the first major resistance level at $0.02472.

Support from the broader market would be needed, however, for Tron’s TRX to break back out from Wednesday’s high $0.024628.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

Failure to avoid a fall back through the $0.02412 pivot level would bring the first major support level at $0.02362 into play.

Barring an extended sell-off, however, Tron’s TRX should steer clear of sub-$0.023 levels. The second major support level at $0.02302 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $0.02362

First Major Resistance Level: $0.02472

23.6% FIB Retracement Level: $0.0291

38.2% FIB Retracement Level: $0.0428

62% FIB Retracement Level: $0.0648

Please let us know what you think in the comments below

Thanks, Bob